Silver Tops ₹4 Lakh/kg, Gold Hits Record ₹1.8 Lakh on MCX
Global bullion rally, weak dollar and safe-haven demand drive historic surge in precious metals
- Silver futures jump to all-time high of ₹4.07 lakh per kg on MCX
- Gold touches lifetime peak of ₹1.80 lakh per 10 grams
- Comex gold crosses USD 5,600/oz; silver hits USD 119.51/oz
- Weak dollar, geopolitical risks and strong demand fuel rally
GG News Bureau
Mumbai, 29th Jan: Silver prices on Thursday breached the historic ₹4 lakh per kilogram mark in futures trade, while gold touched a lifetime high of ₹1.8 lakh per 10 grams on the Multi Commodity Exchange (MCX), driven by strong investor demand and record gains in global markets.
On the MCX, silver futures for March delivery surged ₹22,090, or 5.73 per cent, to hit an all-time high of ₹4,07,456 per kilogram.
Gold futures also saw robust buying interest. The yellow metal for February delivery soared ₹14,586, or 8.8 per cent, to touch a new peak of ₹1,80,501 per 10 grams.
In the international markets, gold futures on Comex crossed the crucial USD 5,600 per ounce mark for the first time. Gold for April delivery rose USD 286.6, or 5.4 per cent, to a fresh record of USD 5,626.8 per ounce. Comex silver futures also climbed sharply to a new high of USD 119.51 per ounce.
Analysts said strong safe-haven buying amid global economic uncertainty and rising geopolitical tensions continued to support bullion prices. They added that upbeat industrial demand for silver and a weaker US dollar further boosted the rally, with silver outperforming gold in recent sessions.
Market experts noted that continued volatility in global financial markets and expectations of policy shifts by major central banks could keep precious metal prices elevated in the near term.
